Discover more from The Ranch by Llama
The Ranch, Issue 34
Updates on our work with Aave.
Welcome to The Ranch, Llama’s Substack newsletter.
In this publication, we’ll share quick and easy to digest insights on:
Updates from Llama 🦙
Herd on the Street - interesting insights on DAOs
Opportunities - ways you can get involved with Llama
1. Updates from Llama 🦙
As we hit the 6-month milestone with Aave, we shared a progress update with the community, which can be found on our Aave dashboard. In our first 6 months, we published and executed 23 onchain proposals relating to the treasury and protocol growth. We estimate that these proposals will have an annualized impact of $2.0m in revenue for Aave. This estimate captures proposals from the last 6 months; we’re excited about the proposals in our pipeline and the impact they’ll have over the coming 6 months.
A full overview of the impact of our proposals can be found at community.llama.xyz/aave/llama/impact, and we encourage the community to take a look at each proposal for specific details.
Below, we show the impact for our proposal to update Aave v2 ETH Interest Rates, which we estimate has driven 234 ETH in revenue to Aave, representing an annualized revenue increase of $1.6m.
In addition to our onchain proposals, we shared updates on our Data Engineering & Analytics work:
Aave Dashboard - one-stop shop for data on the protocol and DAO.
Accounting reports - published financial reports each month since the start of our engagement.
Runway analysis - published a PDF report in November 2022 & later shared a live runway analysis dashboard.
Develop a Data Warehouse for Aave - built a data warehouse to hold Aave financial & protocol metrics data.
DeFi Integrations - supported groups like CIAN as they built strategies on top of Aave. Worked with Balancer to propose gauges for Aave pools.
Claim Revenue to Treasury for Aave V3 - set up off-chain infrastructure to automatically and dynamically claim all revenue to the treasury for Aave V3
Improve Capital Efficiency of the Safety Module (SM) - did extensive analysis on the Safety Module and shared our ideas for improving the SM on the forum.
Asset Listing Risk Assessments
We hosted a Twitter Spaces to cover this work and our plans for the next 6 months. In case you missed it, check out the replay.
2. Herd on the Street
Uniswap Objective Function - Gauntlet
Gauntlet provides a framework for evaluating Uniswap governance proposals based on a cost-benefit analysis, incorporating factors such as current cash flows, future cash flows, and governance value.
Aave Forest - BGD
BGD presented a monitoring and prevention framework to protect Aave against potential exploits.
We’re looking for a senior frontend/full stack engineer. If you fit the bill, please fill out this form and we’ll get back to you!